Opay KYC Levels and How To Upgrade From One Level To Another

Opay KYC Levels and How To Upgrade From One Level To Another

Opay KYC Levels and How To Upgrade From One Level To Another



Opay is a popular money agent in Nigeria. Opay can be used for making bank transfers, making bill payments, for making payments or receiving payments, for airtime recharge, data recharge, betting, and even making payments in stores.

Opay has agents spread all over the country from whom you could withdraw and deposit funds. Anyone can become and Opay agent. However before you become an Opay agent, you must first apply with them, and upon subsequent approval, can you become one.

Opay has different KYC levels. KYC which stands for "Know Your Customer", is a measure introduce by the Central Bank of Nigeria (CBN) to ameliorate financial fraud.

Opay KYC Levels 

Opay has four KYC levels. 


They are:

  1. KYC Level 1: This KYC level has a daily transaction limit of 50,000 Naira, and a maximum balance of 50,000 Naira.
  2. KYC Level 2: This KYC level has a daily transaction limit of 200,000 Naira, and a maximum balance of 500,000 Naira.
  3. KYC Level 3: This KYC level has a daily transaction limit of 5,000,000 Naira, and unlimited maximum balance.
  4. Agent Account: This KYC level has a daily transaction limit of 20,000,000 Naira, and unlimited maximum account balance.
The only benefit of KYC level one account, is that can be used to make limited domestic transactions. This level hardly needs any provision of personal details. This is the level you enter by default upon sign up on the platform. All you provide at registration such as your mobile phone number which also serves as your account number, your name, email address, and password, date of birth, and gender, are sufficient to put on this level.

For KYC level 2, you can also make domestic transactions, and it allows for more balance limits. Benefits of KYC level 2 is similar to level 3, just that KYC level 3 allows for higher account balance than the level 2.

Benefits of the agent account apart from the fact that it allows for higher maximum account balance and daily transactions include the ability to make cash withdrawals without POS, and Agent certificate.

How to Upgrade Your KYC Levels

Upgrading from one KYC level to another is simple.
To upgrade your KYC level, follow the below procedure:

While you are logged into the Opay app, tap your KYC level just below your profile picture towards the left corner of the screen, or tap the "customer" label. This two are just below your name. Alternatively, you can tap the "me" icon at the bottom right corner of the screen to take you to the options page.

On this page, simply tap "Commission Tracking". Scroll down and you'll see a message stating you're not agent, below the message, there is an upgrade button tagged "To Upgrade". Tap this button to access the same page you would access by using the first method explained.

Now you will see an "Upgrade to KYC 2" button. Simply tap on this button to begin the upgrade process to KYC level 2.

Some of your details will definitely already be prefilled because you provided those details at the sign up stage.

If you use a middle name, you can fill it in. This provision is however, optional.

The two important information you need to supply to be upgraded to KYC level two, is your BVN (Bank Verification Number) and your mobile number reserved by your bank. That's your mobile you used for your bank account registration.

Input these details and click "Verify BVN".

After the verification, you will be automatically upgraded to KYC level 2.

Now that you've been upgraded, you will be able to see two buttons at the bottom of the screen. The top one labelled "Upgrade to KYC 3" and the buttom one, "Upgrade to agent".

At this point, you can directly choose to upgrade directly to an agent account, if that's what you're looking for, but you'll still have to provide the required documents required for upgrade to KYC level 3 while you are doing this.

To upgrade to KYC level 3, tap "Upgrade to KYC 3", upload your government issued ID such as International Passport, Drivers license, National ID, Social Security Number, Voters Card, etc.

Also, you'll need to upload your passport photograph, and utility bill. After uploading these documents, click "Upgrade limit".

If you've uploaded the correct documents, Opay will upgrade you to KYC level 3.

To upgrade to the agent account, you will need to provide some basic information about your business.

Details required include:

Name of the business
State in which business is located
Local government
City
Address of business
Email address
Aggregator ID (This is optional)
Referral code (This is also optional)
Business type
Available business types include:
Beauty and Personal Care
Charities, Education and Membership
Food and Drink
Health Care and Fitness
Home and Repair
Leisure and Entertainment
Professional Services
Retail
Transportation
Casual Use.

If you skipped the KYC level 3 directly to the agent account, then you will need to provide the documents mentioned above, which are required for upgrade to KYC level 3.




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